Analytic reviews

The Pound continues to be on the uptrend as the British Parliament session is on hold this month as legislators discuss plans to exit the EU. With the speech of Governor Mark Carney of the Bank of England tonight evening

Elsewhere, markets are looking for the outcome of the FOMC meeting in Washington on 29-30 of this month amid expectations that the committee, led by Federal Reserve Governor Jerome Powell, will remain on the federal funds rate between 2.25% and 2.50% Raised four times last year, as the move to cut back on government bond purchases and mortgage bonds by $ 50 billion a month.

Technical Analysis

GBPUSD succeeded in reaching our main target at 1.3226 and is now nearing it. The road looks open to further upside in the coming period supported by SMA 50, noting that a breach of this level will extend the upside wave to 1.3363 as the next major station.

Therefore, we will keep our bullish outlook intact, keeping in mind that a break of 1.3126 will push the price down towards 1.3024 areas and could extend to 1.2962 before any new attempt to rise.

The trading range for today is among the key support at 1.3126 and resistance at 1.3300

Support and resistance:

Support: 1.3105-1.2969-1.2876

Resistance: 1.3220-1.3250

The general trend for today is bullish

EUR fluctuated in a narrow upward range during the Asian session, its highest since January 15 against the US dollar on the eve of developments and economic data expected Monday by the Euro-Zone economies and amid a lack of economic data by the economy American meeting earlier this week with the Federal Open Market Committee meeting.

At 4:33 am GMT, the EURUSD rose 0.16% to 1.1424 compared to the opening at 1.1406 after the pair hit a two-week high of 1.1426, while the session's low was at 1.1400.

The markets are now looking at the Eurozone economies as a whole for the annual reading of the money supply M-3 and private loans, which may reflect the acceleration of growth in money supply and private loans to 3.8% compared to 3.7% and to 3.4% compared to 3.3% in the previous annual reading of the month in October Last November, before we see ECB President Mario Draghi's testimony to the economy and monetary policy before the European Parliament's Economic and Monetary Affairs Committee in Brussels.

Elsewhere, markets are looking for the outcome of the FOMC meeting in Washington on 29-30 of this month amid expectations that the committee, led by Federal Reserve Governor Jerome Powell, will remain on the federal funds rate between 2.25% and 2.50% Raised four times last year, as the move to cut back on government bond purchases and mortgage bonds by $ 50 billion a month.

Technical Analysis

The EUR / USD pair continues to rise gradually to the pivotal resistance 1.1443, supported by the stochastic approaching the overbought areas, is expected to lose the bullish momentum at 1.1443 resistance to form a negative pressure awaiting the price to drop again as the main bearish scenario Standing firmly below the mentioned resistance, with the reminder that our next main target extends to 1.1181.

Keep in mind that a break of 1.1443 and stability above it will stop the expected decline and lead the price for gains starting at 1.1550 and extending to 1.1705.

The trading range for today is expected among 1.1300 support and 1.1515 resistance

Support and Resistance:

Support: 1.1386-1.1341-1.1300

Resistance: 1.1443-1.1515-1.1550

The general trend for today is bearish

Gold futures fluctuated in a narrowly bullish range to see their rebound to its second-lowest session since December 27 as the US dollar index declined, showing a rebound for the second high session since January 3 according to the inverse relationship between them after declining US House of Representatives Speaker Nancy Pelosi has asked US President Donald Trump to deliver a State of the Union address to Congress on September 29 amid the partial closure of the federal government.

Gold futures for February delivery rose 0.12% to currently trade at $ 1,287.50 per ounce from the opening price of $ 1,285.90 per ounce, while the US dollar index fell 0.23% to 96.38 compared to the opening at 96.60.

On Thursday, White House Economic Adviser Lawrence Kudlow said US President Trump was optimistic about the ongoing trade talks between the United States and China, while US Commerce Secretary Wilbur Ross noted that the world's biggest economy "miles away" from resolving trade issues , But there is a fair chance that they may reach a deal.

This comes as investors look forward to the launch of the second round of trade negotiations between Washington and Beijing on January 30-31 with Chinese Vice Premier Liu Ho's visit to America later next week, with a meeting of the Federal Open Market Committee on 29 January. - 30 this month and the third vote of the British Parliament on the agreement to leave Britain from the European Union next Tuesday.

Technical Analysis

Gold continues to fluctuate between 1277.00 and resistance at 1286.70 and is under continuous negative pressure coming from SMA 50, waiting for the pair to stimulate the pair to break the mentioned support and get a negative incentive confirming the resumption of the expected bearish trend over intraday basis, which has the next target at 1262.50.

The stochastic gives a bullish signal as it moves towards the overbought area and if it is possible it is possible to see an attempt to test the resistance level 1286.83

Keep in mind that a break of 1286.70 will halt the expected decline and lead the price to gain as high as 1316.65.

The trading range for today is among the support at 1260.00 and resistance at 1290.00

Support and Resistance:

Support: 1277.0-1266.47-1251.2

Implications: 1286.83-1295.50-1300.00

The general trend for today is bearish

GBPUSD  continues to be on the uptrend as the British Parliament session is on hold this month as legislators discuss plans to exit the EU. Amid a lack of data on the US economy.

At 04:58 GMT, the GBPUSD rose 0.60% to 1.3120 compared to the opening at 1.3062 after the pair reached a high of 1.3137 and a low of 1.3055.

Technical Analysis

The GBPUSD starts today's trading with a significant increase after yesterday's slight decline to resume the expected bullish trend for the coming period and we believe that the way ahead is to achieve our next target at 1.3226.

Stability above 1.2962 is important for the continuation of the positive scenario and ensuring that there is no negative pressure that prevents the intraday and short term trend to decline.

The trading range for today is among the key support at 1.3050 and resistance at 1.3226

Support and resistance:

Support: 1.2970-1.2876-1.2752

Resistance: 1.3105-1.3160-1.3250

The general trend for today is bullish

The single currency of the European Union region fluctuated in a narrowly bullish range during the Asian session to reflect its rebound to its second-lowest session since December 14 against the US dollar on the eve of developments and economic data expected Friday by the largest eurozone economies Germany and Central The lack of economic data by the US economy is the largest economy in the world.

At 04:58 GMT, the EURUSD rose 0.15% to 1.1321, compared to the opening at 1.1304 after the pair reached a high of 1.1327 and a low of 1.1301.

The markets are currently looking for the German economy to reveal the IFO Business Climate Index, which may reflect a contraction of 100.7 versus 101.0 in December. The same indicator of expectations may show a widening of 97.0 versus 97.3 last month, And the reading of the same indicator for the current assessments may show a widening of the gap to 104.2 versus 104.7.

This comes hours after the end of the ECB meeting, which kept the European Central Bank monetary policymakers at interest rates at current zero levels and in response to ECB decisions, European Central Bank Governor Mario Draghi noted that there are pressures on the economy from external factors including war Trade between Washington and Beijing and fluctuations in emerging markets.

Technical Analysis

EURUSD succeeded in breaching the support of the ascending channel after ending yesterday's trading below it, reinforcing the expectations for the continuation of the decline over the short term and intraday basis, noting that our next target is at 1.1181.

SMA 50 continues to press negatively on the price, to continue with the bearish bias that requires stability below 1.1443.

The Stochastic is floating near the oversold area, boosting the downside if the index is able to enter the region

The trading range for today is expected among the 1.1220 support and 1.1400 resistance

Support and resistance:

Support: 1.1300-1.1211-1.1181

Resistance: 1.1341-1.1386-1.1400

The general trend for today is bearish

The Australian dollar fluctuated in a narrow range slipping towards the Asian session to see its seventh session rebound in one of its 10 sessions since Dec. 13 and prepare for its second consecutive weekly loss against the US dollar amid tight economic data Friday. The Australian economy and its economy are the largest economy in the world.

At 02:28 GMT, the Australian dollar was down 0.08% at 0.7088 compared with the opening levels at 0.7094, after hitting the lowest level since January 4 at 0.7076. At 0.7096.

The divergence in comments on the ongoing trade talks between the United States and China, Australia's largest trading partner, casts a shadow over investors' appetite for risk as well as the partial closure of the federal government, the longest in American history amid the Republican Party's insistence on funding Congress to create a border wall between The United States and Mexico Democrats refused to do so.

"We want to point out that US President Donald Trump said on Thursday that the ongoing trade negotiations between his country and China are going very well and whether the result is good for America, adding that Beijing wants to reach a trade agreement from Washington and especially that China is in a bad situation due to customs duties, Adding that the United States could increase tariffs if an agreement is not reached by next month.

White House economic adviser Kevin Hast noted that Washington and Beijing could reach a trade deal by next March, before the 10-day deadline for a 10 percent freeze on customs duties, which was supposed to rise to 25 percent earlier this year. , In order to negotiate between the largest economists in the world with the aim of reaching a trade agreement to avoid a trade war.

Technical Analysis

The AUDUSD extended more negative trading yesterday to settle below 0.7100, bolstering expectations that the bearish trend will continue in the coming period, supported by the SMA 50 which is putting pressure on the price,

With a reminder that our awaited targets start at 0.7060 and then 0.7000.

Stability below 0.7165 is important for the continuation of the suggested bearishness.

The trading range for today is expected among the support at 0.7000 and the resistance at 0.7150

Support and resistance:

Support: 0.7063-0.7000-0.6935

Resistance: 0.7142-0.7222

The general trend for today is bearish

Amazon is trying to rebound after the decline in the last three sessions as the stock approached the 1591.40 support level and rebounded.

The moving averages were 50-20 support for the price at the mentioned level.

We see a positive cross between the two averages which is a positive sign for the rise and an attempt to test the resistance level 1679.05 and break it.

The Stochastic is providing different information as it moves in a descending path. Therefore, we should wait until next week to get clear signals of price action

The expected movement between support is 1.591.40 and resistance is 1765.54

Support and resistance:

Support: 1591.40-1481.85

Resistance: 1679.05-1765.54

The general direction of the movement: neutral with a tendency to rise

EURUSD

The pair is trading below 1.1335, while remaining under pressure due to slower growth of the EU economy and inflation, which means that the ECB is not likely to risk hiking interest rates in the foreseeable future.

The price is below the middle Bolliger bands, above SMA 5, but below SMA 14. RSI is below the level of 50% and is reversing downwards. Stoch are leaving the oversold territory.

Trading recommendations:

The pair can recover to 1.1335. However, if it doesn’t go past this level, a reversal and drop to 1.1265 is possible.

EURUSD

The pair is trading within the narrow range of 1.1335-1.1400 as the ECB monetary policy meeting results are expected to be revealed. It’s most likely to drop to the lower end of the range, while remaining inside of it.

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is on the level of 50% and is moving horizontally. Stoch aren’t informative.

Trading recommendations:

Sell the pair after the publication of the ECB meeting results with a possible target of 1.1335.

Gold futures fluctuated in a tight range slipping during the Asian session, as the US dollar index fell for the third consecutive session from its highest since January 4 according to the inverse relationship between them on the eve of the European Central Bank's decisions and directions and the developments of the partial closure of the government In addition to developments and data expected Thursday by the US economy, the world's largest economy.

Gold futures for February delivery fell 0.12% to currently trade at $ 1,282.50 per ounce, compared to the opening at $ 1,284.00 per ounce, while the dollar index fell 0.06% to 96.07 levels, showing a rebound from Higher in three weeks compared to the opening at 96.12.

The ECB meeting, which is expected to hold interest rates at current zero levels and stabilize the marginal lending rate at 0.25% with a negative deposit rate of -0.40% (ECB) President Mario Draghi at the European Central Bank Press Conference.

On the other hand, markets are looking to the US Senate vote later today on Democratic-backed legislation to end the partial closure of the federal government, the longest in the history of the United States of America, knowing that President Donald Trump has repeatedly noted that he did not Provisional funding for the government is approved by Congress unless it includes a package to fund a border wall with Mexico.

Otherwise, investors are currently waiting for the US economy to release the Jobless Claims reading for the week ending January 19, which could reflect a 6K increase to 219,000 in the previous weekly reading before we see the initial reading of the Managers Index Industrial Procurement and Service Markit for the United States and the release of leading indicators for the last month.

Technical Analysis

Gold is trading below 1286.70, so the negative pressure remains intact, waiting for a break of 1276.50 to get a good incentive to support the bearish intraday trend targeting the 1262.50 level.

Keep in mind that a break of 1286.70 will halt the expected decline and lead the price to achieve positive targets starting at 1316.65.

The trading range for today is among the support at 1260.00 and resistance at 1290.00

Support and resistance:

Support: 1276.50-1266.00-1251.00

Resistance: 1286.83-1295.50-1301.00

The general trend for today is bearish